Skip to content

Search

Latest Stories

NexGen Hotels acquires Hotel Versey in Chicago

The 137-room hotel is the company’s first acquisition of the year

NexGen Hotels acquires Hotel Versey in Chicago

NEXGEN HOTELS RECENTLY acquired the 137-room Hotel Versey in Chicago, Illinois. The boutique property will be managed by Genuine Hospitality Group of St. Louis. The acquisition marks the first for NexGen in 2024, under the leadership of Chris Patel as president.

In November and December, the company acquired around three hotels within a few weeks.


“The Hotel Versey has been on our radar for a long time as it is steeped in rich hospitality tradition that dates back to the 1920s,” said Patel. “We hope to continue on with this tradition with this completely one-of-a-kind hotel.”

The hotel is located near 1920s Diversey Arms building, a Northside Chicago landmark that once served as the home of jazz musician Bix Beiderbecke. Additionally, it is close to Wrigley Field, Lake Michigan, Lincoln Park Zoo, DePaul University, and the Peggy Notebaert Nature Museum.

In December, NexGen Hotels acquired EVEN Hotel Miami – Airport in Miami, marking its third acquisition in a span of two weeks.

More for you

Peachtree Group's Equipment Finance Hits $30M Milestone
Photo credit: iStock

Peachtree’s equipment finance hits $30M

Summary:

  • Peachtree posted nearly $30 million in equipment finance transactions in its first quarter.
  • The division was created to fill a gap as banks reduce lending to middle-market borrowers.
  • Deals covered equipment for transportation, technology and material handling.

PEACHTREE GROUP’S EQUIPMENT finance division closed $29.8 million in capital lease and fair market value transactions across multiple industries in its first full quarter following the platform’s October launch. The deals included equipment for transportation, technology and material handling.

Peachtree Equipment Finance was created to address a gap in the equipment leasing market as banks reduce exposure to middle-market borrowers, Peachtree said in a statement. It focuses on capital leases and FMV transactions structured to businesses’ operational needs.

Keep ReadingShow less